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ELT is measured in time units and is usually presented in years.

For the green fields the RPR assumes the ratio of initial recoverable reserves over the initial production rate.

Although RPR is expressed in time units it does not represent the actual lifetime of the field because production rate is not constant over time.

Usually production rate is declining thus leading to a much longer production time than estimated by RPR.

Unlike RPR it gives more realistic expectations of the resources end of life.

Meantime the ELT is only an estimation and it depends on numerous factors which may affect the production economics in futureBut in many other cases the initial production rate of the green field is being increased over time due to increase in drilling and advanced completions which leads to contraction of the field lifetime comparing to RPR estimate.

See Also

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Petroleum Industry / Upstream  / Petroleum Asset / Petroleum Asset Summary

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